General Knowledge - Indian Economy - Discussion

Nationalizaton of banks started in 1955, with sbi being the first bank to be nationlsed. Then in 1960, its seven subsidiaries (now six) were also nationlised. At present, the 27 nationlised banks are (remember state bank of saurastra is now merged with sbi) Allahabad Bank.

Andhra Bank.
Bank of Baroda.
Bank of India.
Bank of Maharashtra.
Canara Bank.
Central Bank of India.
Corporation Bank.
Dena Bank.
Indian Bank.
Indian Overseas Bank.
Oriental Bank of Commerce.
Punjab and Sind Bank.
Punjab National Bank.
State Bank of Bikaner & Jaipur.
State Bank of Hyderabad.
State Bank of India (SBI).
State Bank of Indore.
State Bank of Mysore.
State Bank of Patiala.
State Bank of Saurashtra.
State Bank of Travancore.
Syndicate Bank.
UCO Bank.
Union Bank of India.
United Bank of India.
Vijaya Bank.
IDBI Bank.

@ramya.

The name of all bank which you have writen above are all nationalised bank please clear me.

Yes. Ms. Shipra. Every bank that is running in India is Nationalized.

You both are right, these all are nationalized bank.

@Ramya.
You are right that there are 27 nationalized banks in India but the last bank in the list which is "IDBI Bank" is a private bank. So the 1 you missed is Allahabad bank and rest all are right.

Yes, IDBI is a private sector bank.

Now federal bank also nationalised.

Nationalisation took place in two phases, with a first round in 1969 covering 14 banks followed by another in 1980 covering 7 banks. Currently there are 27 nationalised commercial banks.

Is the OBC Bank private?

@Ramya, at present there are 5 subsidiary/associate banks of SBI and SBI has also said that it will consider merger of five associate banks in the second quarter of fiscal.